The Council today adopted the decision to appoint Verena Ross as the chairperson of the European Securities and Markets Authority (ESMA). Ms Ross will take up this role on 1 November 2021. Her term of office will run for a five-year period and may be extended once.
For the purpose of appointing a new chair, ESMA had shortlisted three applicants for the post; the Council appointed Ms Ross after she was confirmed by the European Parliament.
ESMA is a Paris-based independent EU financial authority in charge of securities and capital markets supervision. Together with the European Systemic Risk Board (ESRB), the European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA), it forms the European system of financial supervision introduced in 2010 to address the risks revealed by the global financial crisis. ESMA’s tasks include assessing risks to investors, markets and financial stability, promoting convergence of supervision practices and directly supervising credit rating agencies. It regularly informs the Council, the Commission and the European parliament of its activities.
Verena Ross holds a degree in Chinese studies and economics and a Master’s degree in economics. Before applying for the position of ESMA’s chairperson, she worked as its executive director for ten years. Prior to this, Ms Ross held several senior posts in the UK's Financial Services Authority.